The paper "Strategy Formulation and Execution" Is a great example of a Management Assignment. An intended strategy is a plan of action that the company hopes to translate into realized strategy through a clearly defined manner. It follows, therefore, that there must have been precise intentions in the organization, articulated in a detailed manner, to outline what was desired before actions were taken. The intentions are mostly expressed through the organisations objectives and mission statements (Mintzberg & Waters, 1985). One of stag’ s missions is to be among the top three table tennis brands in the world by volume of table tennis tables shipped.
Stag also intends to be number one exporter of sports goods from India. It is clear that stag has fulfilled the first requirement of an intended strategy approach. the environment in Stag’ s core business pin table tennis tables and sports accessories is fairly predictable given the long experience and distribution network Rakesh and Vivek have established over the years. An intended approach can only succeed when the environment is predictable to a large extent (Mintzberg & Waters, 1985).
With predictable environment, the management can be able to outline the action plan from intentions to realized strategy. An intended approach requires that there is a central source of control and direction in the organization (Mintzberg & Waters, 1985). This ensures that the whole organization is able to stick to the laid out action plan towards the realized strategy. Rakesh is firmly in control of the operations as well as the strategic aspects of Stag. Rakesh is the final authority regarding matters such as finances, marketing, and strategic orientation of the business.
This places Rakesh as the central authority in Stag. The rest in the organization have to consult and seek Rakesh’ s consent before reviewing any part of Stag’ s strategy or operations set up. An intended approach will be best suited in the formulation of a strategy for the core business of Stag. Stag operates in a fairly predictable market for its branded sports goods and equipment mainly in table tennis sport. This coupled with the centrality of decisions and operations in Rakesh and Vivek guarantee a successful formulation of a strategy using the intended approach. An entrepreneurial approach to strategy, there is a single individual with a vision for the organization.
The individual is in firm control of the organization and is thus able to influence the rest in the organization to support his/her vision for the organization. The individual’ s vision overrides all other opinions and visions in the organization. In entrepreneurial cases, the individual harboring the vision doubles up as the ultimate leader in the organization (Mintzberg & Waters, 1985). Rakesh is the central authority and the vision bearer in Stag. Rakesh believes that stag can establish itself as a strong brand in the sports good marketing and distribution for the Indian and international markets.
This is the main diversification opportunity that Stag’ s management headed by Rakesh is considering. The entrepreneurial approach is adaptable according to the vision bearer’ s decisions which may vary from time to time. Rakesh’ s vision is, of course, adaptable according to the information he gets and advice he receives from consultants. The entrepreneurial approach will be suitable in developing a strategy for the diversification opportunities available to Stag.
Mintzberg, H., & Waters, J. (1985). Of Strategies, Deliberate and Emergent. Strategic Management Journal , 6, 257-272.
Randall, J. (2004). Managing Change, Changing Managers. New York: Routledge.
Simerson, K. (2011). Strategic Planning: A Practical Guide to Strategy Formulation and Execution: A Practical Guide to Strategy Formulation and Execution. ABC-CLIO.